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the white house won't deliver its own budget in time and still wants to raise more taxes. we're about to hear a response from a republican house member. >>> that's not all. fed chief ben bernanke is saying it must raise the debt ceiling and that the fed is going to keep buying bonds for now. on this one-month anniversary of the heinous, awful newtown shootings, the sheriff comes out in favor of banning assault weapons. "the kudlow report" begins right now. >>> first up tonight, president obama slams the republicans. he says no gimmick, no magic coins. just the plain old standoff on the debt ceiling. who is gonna blink first in this? john harwood joins us from washington with the details. good evening. >> good evening. the president used the last news conference of first term to draw an ever-brighter line with congressional republicans on the debt ceiling. they say they want dollar for dollar spending cuts to be matched with an increase in the debt ceiling. the president said i'll negotiate with you, but not over the debt ceiling. he simply is not going to allieu republicans to take th
. it would be progrowth and no more tax hikes by the way. spending and the debt are the top issue of concern for voters. look, these heinous mass murders are not about weapons. question -- why isn't anyone tackling the really tough issue that may be the root causes of these atrocities? such as broken families, such as the absence of fathers who set examples for their sons? such as the loss of faith in our schools? such as our homes and our culture that have lost faith as well. tonight, we are going to talk about the family values breakdown in america. "the kudlow report" begins right now. another key point tonight. for most of the history, america drew at 3.5% per you. the last dozen years however, we have dropped below 2%. and the so-called obama recovery is just a tad above that 2% rate. which should be unacceptable. it is the worst in the post world war ii era. so the question tonight, what's holding back the american economy? here's my quick road map for an economic boom. start off with major cuts in government spending. we should stop paying people not to work. then cut large and small
be having heart ark tax. if you go to the emergency room and you don't need to be there, it's not good for you or anyone else. >> and there's a lot of germs. thanks so much, doctors. stay well, everybody. >> wash your hands. >> jamie: vice-president joe biden getting ready to prohibit his gun control recommend eggs to president obama on tuesday. just about a month after that gunman opened fire inside the connecticut elementary school and killed 20 children. good morning, everyone. welcome to a brand-new hour, america's news headquarters. much more to come. >> eric: i'm eric shawn. good morning. the vice-president suggested last week, he may support universal background checks and banning high-capacity gun magazines. two proposals the national rifle association and others are bound to fight. peter doocy is in washington with more on the plan that is expected to be unveiled this week. >> reporter: good morning. eric, the national rifle association does not think congress can pass an assault weapons ban or a restriction on high-capacity ammunition. and the nra president explained today, h
with this economic reality. you know what? my constituents are going to pay for it in their taxes. what no one seems to want to talk about in the media. yes, congress will pass an emergency bill and exceed the spending cap congress voted on and then your taxes will be the makeup for that because there is no other place to get it from. >> neil: i admire your guts to stand up to the likes of chris christie, who said, quit playing games and pass the aid. you are saying, we are playing game fist we pass this kind of aid. >> chris christie is a great governor. he's right. the emergency aid nides to be there, the money that will go to the local community, which is about $17 bimmion of this $50 billion aid package. so we bailed out the fema relief insurance fund. okay? we know that that has been operating at a deficit. it's still in the red right now. this is going to prolong the agony. if we don't fix the core spending problem, we are not going to have money for another disaster. >> neil: i suspect they won't. they have taken some of the fat out. but i am talking in terms of million, not billions. >> mill
, of course, in the middle east. but up first, the biggie, taxes. here's christine romans. >> reporter: the challenge, tax reform. for the first time in 20 years, taxes are going up for the rich. they'll pay a higher top marginal income tax rate, higher taxes on dividends and capital gains and a higher estate tax rate, but it could have been worse. >> i think that the wealthy got off pretty easily here. there's a modest tax increase for the very wealthiest in the society, very tiny percentage. i frankly think that there are more taxes coming and they will bite deeper into the middle-class. >> reporter: in fact, two-thirds of americans will pay higher taxes in 2013. the tax fight for the middle-class comes from the end of the payroll tax cut, a temporary tax break that wasn't renewed in the fiscal cliff deal. >> the irs tax code is still a nightmare. it's too complex. too costly, and too unfair. >> reporter: both sides say they're open to simplifying the tax code. more than 70,000 pages in 2012. the u.s. government gives away more than a trillion dollars a year in tax breaks, but republ
loopholes through tax reform, which speaker boehner has acknowledged can raise money in a sensible way, and by doing some additional cuts, including making sure that we are reducing our health care spending, which is the main driver of our deficits, we can arrive at a package that gets this thing done. i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. the threat that unless we get our way, unless you gut medicare or medicaid, or, you know, otherwise slash things that the american people don't believe should be slashed, that we're going to threaten to wreck the entire economy. that is not how, historically, this has been done. that's not how we're going to do it this time. [ inaudible question ] chuck, what i'm saying to you is that there is no simpler solution, no ready, credible solution other than congress either give me the authority to raise the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling. because this is about paying your bills. everybo
contra costa. >> county fire officials say the defeat of a parcel tax last november leaves them no option. >> in oakland, police overwhelmed by a wave of gang killings. today the chief told us what he needs to turn the tide. and in marin county, a first=ever gun buyback program runs into an unexpected hitch. (male announcer) this is the bay area news station, kron 4 news starts now.empty fire stations in >> pam: empty fire stations contra costa county tonight. with not enough money in the budget - four fire-houses are now shut down. good evening, i'm pam moore. tonight - j-r stone is live where community members are expressing their concern. but, first grant lodes is standing by at the big board. to show us which areas are affected. grant? >> four stations close today in contra costa county. in martinez - station 12 on shell avenue. in lafayette - station 16 on los arabis avenue. walnut creek loses station 4 on hawthorne drive. and in clayton, station 11 on center avenue. kron four's j-r stone is live tonight in >> there is a community meeting that begins at 6:00 p.m. directly b
to go up. it could mean higher taxes and more cults to programs and services from the government. any hope for a controlled fix to our debt problem would be compromised. failing to pay for what we've already spent would be hazardous to the fragile economic recovery now gaining steam. just this week we got a reading about construction of new homes. it jumped 12.1% in december compared to the month before. that's the highest in more than four years. first-time claims for unemployment benefits fell to a five-year low. and the stock market that you invested in your 401(k) and i.r.a. is hitting five year highs. things are okay. defaulting on our fiscal obligations would hit the economy harder than that cliff we narrowly avoided and will face again. a report put out by jpmorgan in 2011 exploited the myth going around a few missed payments would be no big deal. they said any delay by the treasury would have ripple effects similar to the aftermath of the lehman brother collapse. not sure that's true but it's serious. this is all caused by the dell ceiling. the u.s. is the only other country o
is behind us when it comes to taxs. >> take a look at what is in the package in terms of spending. additional savings from medicare and medicaid in it. savings from agricultural sub is sidis. the president already signed a trillion dollars of deficit reduction into law and committed to more spending cuts but we can't just cut our way to prosperity. we have toasting to invest in things like -- we have to continue to invest in things like education and energy. he put reducing the deficit in a balanced way to promote jobs for middle class families and that is going to be his guiding principle through the negotiations. >> i want to ask you quickly about the republican idea. would you support it but with the caveat they are telling the senate you haven't passed a budget in more than three years and you need to do that so we have a baseline for negotiations. >> well, let's revisit what the debt limit actually is. this is about congress paying the bills for what it has already racked up. the white house has made clear that the president will take a look at the proposal. they said it is e
give a tax credit to any one who would turn in what lawmakers are calling an assault weapon and also another measure aimed at creating the overall bigger picture of mass violence. >> at the news conference the president accused republicans of trying to collect a ransom in exchange for not crashing the u.s. economy. they are demanding more spending cuts before they agree to raise the nation's debt ceiling. the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really mig
decided to force the gop to surrender on the debt limit and require the republicans to accept new taxes in exchange for any new real spending reductions. so the white house's plan is to force republicans to be unreasonable by being themselves reasonable and taking the positions they have had all along, including in the 2012 campaign, which they won. another version came today from "the new york times" columnist, saying they could adopt the strategy, called kill the wounded, the wounded being the republican party. the way the strategy works, the moderate policies on gun control and hurricane relief, they will force the republicans to offend main stream supporters or risk a challenge from the right. there is a kind of a delightful logic to this argument, which it is true. the republican party looks really bad because the white house is proposing pretty popular moderate ideas and republicans keep saying no to them. and yeah, it is true that house republicans look kind of crazy when they say they're going to let the white house default on its obligations, regarding the election and that iss
. someone get me a latte will ya, please? >>> time to talk taxes with passage of proposition 30 more californians pay the highest state income tax in the nation. will the latest bump push them out? we bring in larry gerston and there's a lot of money at stake here. >> we need wealthy people here. that's for sure. here's why, jessica. before proposition 30 passed, the wealthiest 1% of californians paid 40% of all state income taxes or about $20 billion annually. that's particularly important because the income tax itself accounts for more than 60% of the state general fund. and the proportion paid by the wealthy will be even higher once proposition 30 kicks in. >> it's not really realistic to think that rich people will up and leave the state. >> there are no indication of wealthy flight that's for sure. it's just the opposite. according to public policy institute of california, the ones that leave every year have low incomes, little education and higher unemployment rates more so than the state as a holhol whole. even after voters pass the millionaires tax in 2004, the state still ma
.5 trillion in tax revenue. ten times what the servicing on the debt is there is some cash flow aspects of turning over some debt. but basically the only reason you have to increase the debt ceiling is because we continue to deficit spend. we're actually spending $1 trillion more than we're bringing in. >> we're not, when you say -- >> that's the reason you have to increase the debt ceiling. >> when you say we continue to deficit spend. we've deny sit spent under this entire administration, under the entire previous administration as well. this isn't new, we never don't deficit spend. why would you pick this moment to have that fight? >> when do you stop doing that. >> can you come up with a budget? paul ryan couldn't come up with one. >> well paul ryan did pass a budget in the house. where we have passed a budget is in the united states senate controlled by democrats for over three years. >> right. >> so what we need, what we need to use the debt ceiling moment as, is a moment to educate the american public about all the deficit spending. the fact that we blew through a $2.1 billion in
as if the democrats are the party of tax and spend, the republicans are the party of borrow and spend. did you see any evidence of the bush administration that there was any entitlement cutbacks? i don't believe most republican politicians have any discipline when it comes to spending or they wouldn't have been nearly as profligate, give me a break. this won't be much of a showdown. republicans -- come here, come here, the republicans, they don't want to cut spending either. embarrassing the president is one thing, but actually offering plans to cut medicare, social security, defense, oh, please. i'll believe it when i see it, even as i think it's important that it be done. both parties guilty of too much spending. the democrats vitriolic, tried to raise money to pay for it. but enough politics. the american investor figured out we're pretty far along through the united states of three-ring circuses. the most important spur for investment is confidence. three issues that held up business formation and stock investing for a long time, really put a drag on it. uncertainty of the presidential election, u
is higher and i said no, it isn't. you are making that up. we are not including state taxes. neither am i am including the surtax on medicare. >> 3.8%. >> neil: and they said made that up. it's in your law, reading it to you. they swore, it's not there. you now have this dilemma in new york, you have a dilemma with the healthcare law. it's sort of like the gift that keeps giving. >> 20-page bills in plain honest english that lawmakers at the state and federal level will actually read before they vote on this them. 20 pages, framers of our constitution framed our government in 18 pages. there should be symposiums to help the reporters to do a more responsible job of covering healthcare. frankly they were somewhat come police it in the public getting bamboozled. >> neil: here is what is scary. here is what should be pushing and you should be saying. you missing the good in this. maybe other things that i am not aware of, but my point is that is a little weird? >> yes, bu where is the reporters when it comes to looking at the facts. remember the president saying skyrocketing health spending. th
, connects to all of the spending and tax issues and are they going to have some way where they are going to say let's work together or are we going to have four more years of this petty stupid fighting on things that makes everyone look ridiculous and no one comes out the winner. >> chris: let me before i get to you, and what about the president's side of it? do you agree that he has take and more combative tone since the election? >> he has. but, you know, we were going to have tax increases for everyone and he and to speaker boehner's credit they wound up agreeing as did biden and mcconnell that we are going to give 99% of the people in this country a permanent tax break. that was a big accomplishment. of course, everyone dumped on it when it happened but the 99% of the people who got that tax cut i think are quite happy. i think they haven't figured out a strategy in the white house just like the republicans don't have one. >> there is two kinds of issues. issues the president ran on in the reelection campaign. he has credibility to say hey, i won the reelection. you can say to democr
's not as big as it was. the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do with the declines we're seeing. telco was a place to hide back in 2012. at&t and verizon saw slow downs. no let up in the subsidies to apple and samsung, we love these companies because they had no europe last year, no china, no mexico. now we wish they had all three and there was business formation. let's focus on the other half of the equation. it's a little more robust, where the money is going. last night china had one more remarkable session. holy cow, courtesy of new attitude. the gold double digit growth is taking up the fxi. follow along, but it is taking up the ancillary c
is hungry for that after getting hosed in that high tax bill. >> i think you're a bit off, larry, respectfully in that republicans i think want to have these spending cuts. but they're picking a strategic battle. and you could be right in saying they're picking the wrong battle. but they don't want to have the spending battle on the debt limit. they want to have it on the cr, that continuing resolution to fund the government for the rest of the year. >> well, i am 100% -- look, i do not want to mess with the debt ceiling. i don't want to mess with that. that's a domestic and international global meltdown. so to that extent i agree. i just didn't hear the rest of the story laid out very coherently regarding spending. i didn't hear it from paul ryan, and i didn't hear it from the leaders. and that's the part i don't get. the debt ceiling, three months, whatever. the continuing resolution, that's a little bit in the weeds. but all right. fine. you can work with that. but i didn't hear them say what that was going to mean for spending, either. >> that's a great point, larry. they're
to the american people. >> and those trends and benefits are tax they are subsidized with all of us. you are fine with the private sector having commuting cost but signaling out federal workers for the transit part. federal workers get way more benefits and transit is a minor, minor incident of what they are getting. my company makes the decision and not the congress and people that are ben fitting it without me. >> one second. did fox give everybody a subsidy to come to work today and did they pay for your transportation? >> no. >> exactly, they didn't pay for it. >> it was a long walk, everybody. john, going back to one example of what we are dealing with, in regard toz debt and washington and they would not vote on the idea to potentially cut the mass transit subsidy for federal workers. but they are not wanting to cut anything. they have a pet project in dc right now. >> what happened to wayne, johnathon interrupted him and diverted his attention and he ran in a tree, that's what happened. this is typical of congress. they talk about simpson-bowls and they are not doing any of it. they refuse
nothing to do with our inability to govern our own spending and taxes. but anytime one tries to hold it, that is when it is wrong. whatever you want to call it, when you have a moral and constitutional obligation you shouldn't mix it up with things you want to do politically. i come back to you, there is the see quester that was done in late 2011. and on top of that, we have to have a continuing resolution to let the government run. my suggestion is that you give yourself time to get that done. >> maybe we can rise beyond some of our constituentsys which are screaming in our ears don't compromise. >> maybe you can change the order that these fall. if you want to line up where you are spendingwise. but i have to disagree with my buddy charlie and i think the moral obligation here and the way that you keep us from being downgraded how do we tell the markets that we are doing something to tell the debt curve what it is about to do to the country. >> if it looks like you are trying to parcel out, there are 80 million payment accounts in the american government and you are rying to give out
. >> greta: taxes and have you thought about our corporate tax rate? >> could have,we have the highest corporate tax rate in the entire world now. japan used to be number one and u.s. number two. they cut their rates and now when you combine state and federal taxes, the highest corporate tax rates in the world. >> greta: how does that affect your business? you're very successful, you're a rich man and how does it affect you and your employees. >> every dollar we pay in taxes is a dollar that we can't give back to the customers in lower prices, a dollar we can't pay to our team members and higher wages and benefits. it's a dollar that we can't give back to the suppliers with lower prices. it's a dollar that we can't donate fill v-- fi -- and you need to hear this next, but the headlines are screaming scandal. a new cheater joining the ranks of tiger woods, arnold schwarzenegger and kristin stewart. who is it? well, that's coming up. and in two minutes, a 16-year-old is drunk driving and a mother finds a public way to punish him. is she teaching him a good lesson or going too far? new pr
about now closing more loopholes and that means higher taxes. we don't know on who, but he would not specify any specific spending reductions and refusing to negotiate with the house republicans on the issue of the debt ceiling. lou, an interesting couple of months. looking forward to it. >> megyn: all right. thank you, sir. >> thanks, megyn. >> megyn: with the president refuse to go negotiate on that debt ceiling, it's coming and we're going to hit it and there's going to be a real question what we will do. he negotiated the last time and suddenly says he doesn't want to negotiate anymore and the republicans have drawn a line in the sand when it comes to these spending cuts, saying, if we don't see a dollar for dollar spending cut in the amount you want to raise the debt ceiling, there's no deal. what kind of progress can we hope for here? our political panel debates that coming up in our next hour. now to another big debate playing out in washington over the obama administration's efforts to overhaul the nation's gun laws. we heard some of that this morning. here is the preside
to raise taxes and democrats don't want to touch entitlements it will be a heavy left but may bring optimistic. >> gregg: do allies of president obama maybe there is an opportunity to get big things done? >> they do seem encouraged following the house republicans' offer to increase the debt limit nation's built to borrow for three months and in exchange allow the house and senate to pass a budget. republicans would like to see a budget with spending cuts. here a key white house advisor on the g.o.p. offer. >>> we don't think the short term is smart for the economy. two or three months has uncertainty. we are please today see the republicans in the house drop their previous position which was, they were only going to pay the bills they racked up if they got what they wanted in deep spending cuts in medicare and other programs. that is progress. >> reporter: starting a new term president obama has reluctance will ri he is the one politician in washington who does not have to run for reelection. it be interesting to see what he wants to do to try to push big things across the finish li
stating very clearly today that he will not negotiate deficit reduction, tax increases and spending cuts attached to the debt ceiling. this of course does follow that bruising battle the year before last, where he did negotiate on the issue, and the u.s. nearly went to the brink of default. he said that congress has to pay the bills that it's already racked up. >> you don't go out to dinner and then, you know, eat all you want and then leave without paying the check. and if you do, you're breaking the law. and congress should think about it the same way that the american people do. you don't -- now, if congress want, to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's the debate that we should have. >> reporter: in this press conference that was called last minute in the east room, president obama said he will negotiate a deal on deficit reduction but not, as he put it, quote, with a gun to the head of the american people. as you know, joe, republicans are saying they're not going to increase the debt c
of hasandy aid bill up for a vote. xlees with tax breaks for rum distillers? i need a drunk. >>> i'm kry is tal ball. are we turning our kids in to narcissists? >>> a dope. lance armstrong comes clean to the queen of talk but who needed the interview more, lance or oprah? >>> i'm shooting straight coming to guns. ready, aim? "the cycle" is on fire. >>> the house is back and getting serious about the constitution. members spent 1:05 reciting the entire u.s. constitution. it's the basis of our government, of course, but this is only the second time ever the entire document was read aloud in the house. >> we the people of the united states in order to form a more perfect union -- >> no person except a natural-born citizen shall be eligible to the office of president. >>> the powers to all cases of law and equity. >> full faith and credit given in each state to the public acts. >> congress shall make no law respecting an establishment of religion, the right of the people to keep and bear arms shall not be infringed. >> neither slavery nor involuntary servitude shall exist within the united s
for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on wealthiest americans. >> sean: gun at the head of the american people and republicans hostage takers and mr. president, comments like that are responsible for the gridlock in washington and whether or not mr. president, you like to believe it, you're to blame. and with us, stuart varney and co-host of "the five", dana perino, it never stops. >> at least he's consistent? good point. >> there are -- when there's a saying, you know, don't believe your own hype. i also think that in some ways presidents should not read their own press. there are always going be to be critics and i remember george w. bush did not spend a lot of times reading the nasty things that people said about him. he would say, look, this is where i think we need to go, this is a policy and help me get there. and he would try to bring in people from the other side to get that done. that wasn't always possible and people didn't always agree with him, but that was a bert approach and got more done bec
back tax do community service, prove they have been here for an extended period of time. understand some english and become assimilated. most of them would get legal stat us and be allowed to stay in the country. congressman paul ryan is weighing in. he wrote this on his facebook page. senator rubio is exactly right on the immediate to fix our broken immigration system. i support the principle he's outlined. modernization of our immigration law, stronger security to curb illegal immigration and respect important the rule of law in addressing the complex challenge of the undocumented population. eagerness to jump onboard is bipartisan. majority leader harry reid describing the prospects for immigration reform in the months ahead. >> it is going to be first thing on our agenda. the -- majority, every senate, lists their top ten items. immigration is the number one item. we are going to do immigration. they are now -- agreed tentatively on a path of citizenship which is the big stumbling block. we may be able to come up with a bipartisan bill quicker than you think. >> it is going to m
of taxes or revenues that he's projecting come in. you guys skeptical about his happy days are here again routine? >> well, you know, looking at the budget, have you ever driven in europe? you know the highway signs, the speed limits in europe it's considered over there philosophical concept. that's what we see with this budget. it is his idea and realistic. he's taking real numbers and kind of melding them into something that will work. i think it's a good budget, realistic, balanced in the sense he's not spending as much money to pay back the short- term debt as he was projecting last year and that's how the budget is balanced and we will see how it plays out in the future. >> when you say melding it into something that will work, that translates for a lot of people into these budget tricks that end up to be a totally realistic budget in the end but we hear about all of these tricks. >> that's what we have seen in the past but this one is different because the numbers are -- you know, we are only talking about a billion dollars of deferrals or c
more without asking the rich to pay more so we have to raise taxes. so we raise taxes, we got pretty much exactly what obama asked for with a big tax hike and obama's response is, now we need a balanced approach where we raise more taxes. >> megyn: jonah goldberg, thank you. >> thank you. >> megyn: up next, a popular internet activist was faced with a possible 35 years in jail for hacking before took his own life. music: "make someone happy" music: "make someone happy" ♪it's so important to make someone happy.♪ it's so important to make meone happy.♪ ♪make just one someone happy ♪and you will be happy too. >> fox news alert. we told you at the top of the hour how ejust got word from the white house briefing that the the president will deliver his plan for the gun crackdown, however you want to phrase it, the executive orders that he is prepared to issue on guns in addition to the legislative push that we expect him to make around this time tomorrow. well, moments ago we just learned that the president will be joined by children from around the country who wrote letters to
are paycheck tax hike. lauren simonetti joins us with more on this. most americans buy tomorrow will have experienced this hit in their paycheck. >> already 134 million americans are feeling the 2 percentage point increase in the social security tax. that's expect to do drum up 125 billion in revenue for the government this year. but it's likely already eating away at your disposable income trips to the movies and restaurants brands you are buying at the food store. the increase means american families have this much less to spend this year $354 for those living at the level. the average income being 64,000. 2400 for those making $1,134,000. >> we were not aware that was going to happen. >> something people can't avoid buying gas. gas prices have increased. >> backup. on october 5th gasoline average 3.46. it fell $0.58 that stopped the average price $3.32. that's an crease of $0.07 in two weeks. they are starting to pass on the higher cost of crude oil. prices will go up until the next few weeks until they possibly go back down. the weather gets nicer people start driving more. >> then th
growth story. smaller paycheck. the end of the payroll tax holiday has to hurt retail doesn't it? and the facebook disappointment. you have this mystery announcement coming. instead we have an announcement of a tool to search information on big social networks. what a bust. yet the market didn't get hammered. there was no rally, and then we got the nap time and the fresh bull came to play into the bell. what is happening here? there have been different times along the way up where we had this same exact phenomenon like we are seeing here today. one at the beginning of the bull run. another occurred in the first three years in the '90s. we had about a half dozen since the new millennium. and every single case, every single one i can recall we get this moment where the market didn't get tired, but the analyst did. many big cap stocks had run up into their price targets. analysts stayed bullish or they actually even raised price and it was a mistake. and i'll tell you, let's use it, an endless target party. 700 goes to 900 and only if there were a two for one stocks split. the analy
they spend, they send to washington every year in taxes, here's what they get back, new jersey. 61 cents. connecticut, 69 cents. new york, 79 cents. in kansas, they might say look, you guys are loading off us every year. you get $1.12 for every dollar you send in. don't they deserve their money back? isn't this a chance to give it to them? >> i don't know what those numbers are but everybody is getting back more than they send in because 40 cents out of every dollar that's spent in washington, d.c., whether it's relief aid or for any other purpose, is borrowed. what we're trying to do here is make certain if we're going to spend $50 billion or $40 billion or $10 billion, it should be done in a fiscally responsible manner, especially if 80% of the aid is not going to be spent until 2015, why do they have to rush it through. there is going to be pork items in this bill, no question. smithsonian, numerous other places have nothing to do with disaster relief. that's what happens around here far too often. that's what i'm concerned about is when we're borrowing 40 cents out of every dollar, w
they look at it this way, for every dollar they send to washington every year in taxes, here's what they get back, 61 cents, new jersey. new york 79 cents. in kansas mayim bialik say you are loading off of us every year. you get 1.12 for every dollar you send in. don't they deserve their money back. >> i don't know what those numbers are. we have an america that everyone is getting more than they send in. 40 cents of every dollar back in washington, d.c. for relief aid or any other purposes is borrowed. what we are trying to do if you are going to spend 50, 40 billion or $10 it should be done in a fiscally responsible manner, especially if 80% of the aid is not going to be spent until 2015 why rush it through? there's going to be pork items, smithsonian and other places have nothing to do with disaster relief and that what happens around here too often. when we borrow 40 cents out of every dollar make sure it gets to those who need it and there are millions of americans in need. >> the congressman when he mentioned the drought affects you in kansas. there's a drought according to the agricul
at their schools? mr. obama demands the wealthy pay their fair share of taxes, but he's just another elitist hypocrite when it comes to a fair share of security. >> following the president's announcement, they released a statement and i'm quoting. we look forward to working with congress on a bipartisan basis to find real solutions to protecting america's most valuable asset, our children. attacking firearms and ignoring children is not a solution to the crisis we face as a nation. no, of course. more guns are always the only answer for the nra. joining us now is kristen welker live at the white house. and kristen, we're getting news that the president and the vice president will girn traveling outside of washington to engage the public on the gun issue. what are you hearing? >> that's absolutely right, martin. according to a white house official, you can expect the president and the vice president to separately get out of d.c., hit the road, talk to the american people to try to push for the proposals that they unveiled today. this is, of course, a tactic that the white house has employed i
legislation, you're not going to get to be able to identify any of these tax loopholes that we're talking about getting new revenue into the treasury. the first order of business to me, anyway, mr. president, how strong are you on the filibuster? you've stated before that you're in favor of it but he has got to come out and focus the country on how dysfunctional the senate has been. we can't live through 380 filibusters again and we've got to move forward. the only way to do that is to turn to the most politically important man in the country right now and that's harry reid. harry reese got to make the move. >> debt ceiling is date specific, as i mentioned, to peter about gun control, whether or not that's going to come up and where in the press conference that's going to come up as vice president gets ready to put forward the proposals that his gun task force has been drafting over the last several days. one thing is our nbc points out today about whether or not the appetite is lessening for this. they say, you also get the sense that the air is leaking ever so slightly out of this ballo
for his hypocrisy. >> mr. obama demand the wealthy pay their fair share of taxes and just another elitist hypocrite for their fair share of security. a and-- >> you can go to the hannity control room right there and see our producer working hard kind the scenes to bring you the hannity live experience where you get the background information on the stories covered right here on the show. and in the break, you can go to hannity llive.foxnews.com and share your opinions on president obama's gun proposals, i'll see you there and coming up michelle malkin, senator rand paul and much senator rand paul and much momomomomomomo officemax has exactly the ink... your business needs... at prices that keep you...out of the red. this week get a bonus $15 itunes gift card with any qualifying $75 ink purchase. find thousands of big deals now... at officemax. i've got two tickets to paradise!l set? pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singing: to tickets to... paradiiiiiise! no four. remember? whoooa whooaa whooo! you know ronny, folks who save hundreds o
trillion debt because we tax too little. it's because we spend too much. >> shannon: that's the debate we heard during the fiscal cliff negotiations and we are going to hear in the weeks and months, as you have outlined. all during the fiscal cliff, all the polling showed that the general public thought this was the fault of the house republicans, primarily the house side and republicans in congress as a whole. have you headed up the republican national committee, you know what it is like to sell a message to the american people. why are the republicans not doing well? they are saying, we are trying to put on the brakes and we are selling out our grandkids. but the public, when polled, blames republicans for this? >> one of the things you learn in politics, sometimes the other side gets the bumper sticker and you get the essay. the democratic-controlled senate has not papassed a budget in 3 years. the house republican vtion passed budgets when they have controlled-- the american people are never told that. why? republicans don't talk about it enough -- >> shannon: why not? >> well, becaus
jersey and connecticut, these three states pay almost 16% of the taxes collected in the united states of america. >> some house conservatives favored amendment offered by south carolina mick mulvaney to pay for $17 billion in disaster relief cutting discretionary spending across the board by 1.63%. >> it's important to me that the money goes to the folks who need it very badly. it's so important to me,be that i think we should pay for it. >> the amendment failed. key new york democrat says paying for disaster relief cutting elsewhere would be a first. sandy victims should get their aid. >> i wantbe to repeat this point again. united states of america we respond to disasters. all americans respond to disasters. we don't ask for off-sets. >> with the nation's debt at $16 trillion and counting, conservatives say it isn't about bashing the northeast. it is about saving the country. >> we have to get this under control. most conservatives believe we have to come to a point where we stand and fight. i hope this is the time. >> after president obama said it would be irresponsible and absurd
attention in russia to putin's 13% flat tax. i mean, that is a very low tax in a country where inequality of income is just gigantic. right up there with america's inequality of income. there is a lot of resentment among ordinary russians are people who are making millions and millions of dollars a year in russia are paying only 13%. there's another side potential consequence. putin, russia is turning east. it's turning away from europe and that's the subject of a much longer discussion. but, putin, russia's two main allies in europe have been germany and france. the german relationship has soured. the french relationship has not soured. but if this goes down, this act or stunt of taking russia, by the way, he's not going to live in russia. he just took the passport. but if this goes down badly in france, for any reason, it will further fray russia's ties with the west and russia's turn to the east. that's not good for any of us, i think. >> stephen cohen william browder, thank you for joining us. fascinating conversation. up next, what in the world, why the country with the world's great
to be about 5 to 7% lower, meaning those people in the exchange that needed a subsidy would take fewer tax dollars and it is also estimated that it would serve as an anchor, because there's competition, to bring down the cost of health care, even in the private sector as well. >> when is the government -- when is the government ever done that? with george bush's plan, you were critical and had a right to be for prescription drug benefit. the argument ises that it would drive down the cost of those drugs. if anything they have soared since that benefit came in because the government cannot act as a source of even buying in bulk for cutting prices. >> that's exactly right. and in fact i'm also supportive of legislation that would allow medicare, just leak the veterans administration to negotiate with the manufacturers, the drug companies, for lower drug prices. and i guess the point is that there are -- >> it doesn't work. didn't work in the case of drug prescriptions. if you were to expand this to care, what -- >> no, no. >> what is the chance you would get more bang for the buck? >> here's
tax reform. but what he's not willing to negotiate and he should not noer negotiate is over whether the congress pays for the bills. the congress is saying if we don't make the changes the way they want to, they're threatening to tank the united states economy. again, the debt ceiling, it is really important that people understand, this is not about expanding your capacity to start new government programs. this is paying for bill that is are already due and owing so not paying it would be like, tamron, you and i buying stuff on the credit card and then deciding after we bought that stuff we are not going to pay for it. if the united states does that, it will tank our credit rating and economy and make any discussion of what would happen going over the fiscal cliff look like child's play. that's why the president said, look, he is not going to allow the american economy to be held hostage in that way. he is absolutely prepared to continue to negotiate ways to reduce our budget deficit and that's exactly what we should be doing but we shouldn't be doing it under the threat, the republ
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